The William D. Ford Federal Direct Parent PLUS Loan Program (PLUS) is an unsubsidized loan for parents of dependent students. To be considered eligible, the borrower must be the student’s biological parent, adoptive parent, or stepparent.

The Federal Perkins Loan Program is awarded to students enrolled in an undergraduate degree-seeking program who have not met their annual loan limit, who have exceptional need, and who have not met their Cost of Attendance (COA). The application for the Federal Perkins Loan Program is the completion of the Free Application for Federal Student Aid (FAFSA). Federal Perkins Loan Entrance Counseling, Federal Perkins Loan Rights and Responsibility Information, and Federal Perkins Loan Master Promissory Note must also be completed.

The final year for the Federal Perkins Loan Program is the 2016-2017 Academic Year. There is no grandfathering provision in place after the 2016-2017 Academic Year. More information to follow.

The Roberta B. Willis Scholarship Program Need-Merit-Based Scholarship (RWSP Merit) is for high school seniors who rank in the 20th percentile of their high school junior year class, or college undergraduates who ranked in the top 20th percentile of their high school senior year class and/or have a combined score on the Scholastic Aptitude Test (SAT) of 1800 or higher or an American College Testing (ACT) score of 27 or higher. Students must meet with their high school guidance counselors to complete and submit an electronic application to the Office of Higher Education by February 15th. Additionally, new applicants must submit a Free Application for Federal Student Aid (FAFSA) by February 15th and renewing students must submit a FAFSA by April 30th. The Office of Higher Education submits a list of the recipients to the College.

The Roberta B. Willis Scholarship Program Need-Based Grant (RWSP) is given to Connecticut residents who are undergraduate students enrolled at least half-time and matriculated in a degree-seeking program. Application for RWSP is through the completions of Free Application for the Federal Student Aid (FAFSA). Students receiving a Roberta B. Willis Scholarship Program Need-Merit Scholarship award are ineligible to receive the RWSP Need-Based Grant.

The Connecticut Minority Teacher Incentive Program (MTIP) provides grants and college loan payment stipends to Connecticut minority group members who are enrolled undergraduates in Connecticut teacher preparation programs as full-time stu¬dents. Students must be nominated for MTIP, which is to be completed by the Director of Education Programs at Albertus Magnus College and complete Section A of the nomination form. MTIP loan stipend applications must also include proof of loans to the Office of Higher Education and begin teaching in an accredited Connecticut public elementary or secondary school within 16 months of graduation, and work at least 9 months in the same academic year. The form is then submitted to the Office of Higher Education.

The Federal Pell Grant Program provides need-based grants to low-income undergraduates to promote access to postsecondary education. The application for a Pell Grant is the Free Application for Federal Student Aid (FAFSA), but eligible students must complete all required missing documents to receive the grant. Pell Grant awards are based on the 9-month Expected Family Contribution (EFC) on the student’s valid FAFSA, the academic year structure, and the Cost of Attendance (COA) for a full-time student for a full academic year. To receive a Pell Grant, a student must meet the general eligibility requirements for Title IV aid.

The Federal Supplemental Educational Opportunity Grant (FSEOG) Program provides assistance to exceptionally needy undergraduate stu¬dents, matriculated in a degree seeking program attending at least half- time. Application for FSEOG is through the completions of the Free Application for Federal Student Aid (FAFSA). Students are exceptionally needy if they have the lowest Expected Family Contributions (EFC). The FSEOG first selection group of recipients includes Federal Pell Grant recipients.

The Iraq and Afghanistan Service Grant (IASG) is given to an otherwise Pell-eligible student whose parent or guardian died as a result of U.S. military service in Iraq or Afghanistan after September 11, 2011 if at the time of the parent or guardian’s death, the student was either less than 24 years old or was enrolled at an institution of higher education. The application for IASG is the Free Application for Federal Student Aid (FAFSA), but eligible students must complete all required missing documents to receive the grant. To receive IASG, a student must meet the general eligibility requirements for Title IV aid.

The Federal Work-Study (FWS) Program is a federally funded work program that provides on-campus positions for part-time employment to eligible students with significant financial need. The application for FWS is the Free Application for Federal Student Aid (FAFSA), but eligible students must complete all required missing documents to receive the award. To receive FWS, a student must meet the general eligibility requirements for Title IV aid.

The Community Federal Work-Study (CFWS) Program is a federally funded work program that provides off-campus positions for part-time employment at non-profit organizations to eligible students with significant financial need. The application for CFWS is the Free Application for Federal Student Aid (FAFSA), but eligible students must complete all required missing documents to receive the award. To receive CFWS, a student must meet the general eligibility requirements for Title IV aid.

Calendar of Events

February 13, 2018

Module 4 Document Deadline

February 26, 2018

Coffee Conversation: Trouble/Financial Difficulty Warning Signs

March 15, 2018

Priority Freshman FAFSA Deadline

March 19, 2018

Coffee Conversation: Taxes

April 15, 2018

Priority Returning Student FAFSA Deadline

April 23, 2018

Coffee Conversation: Repayment

April 23, 2018

“Money Smart Monday” Event

June 1, 2018

Priority ADP FAFSA Deadline

July 1, 2018

Transfer Student Deadline

July 27, 2018

18-19 Fall Semester and Module 1 Document Deadline

Authorization to Manage Funds Form & Excess Funds Form

The Authorization to Manage Funds Form and the Excess Funds Form are no longer required in the 2017-2018 Academic Year. Albertus Magnus College will no longer manage your excess funds. In order to provide more flexible refund options, Albertus Magnus College has partnered with BankMobile Disbursements, a refund management provider to deliver refunds. Any excess funds remaining on your account after current charges are paid will be automatically issued to you based on your selected refund preference. You have the option to:

Deposit their refund to an existing account

Deposit their refund to a BankMobile vibe checking account

Receive a paper check delivered by USPS

You can go online to select your refund preference. Please note that refunds for Parent PLUS Loans are sent via paper check to the parent by mail.

We encourage you to reduce your overall loan debt prior to a credit accruing on your account. Let us know in person, in writing, or by email as soon as possible; you have 30 days after the funds disburse to cancel your loan(s). If you would like to cancel your loans after 30 days, you must make payment arrangements with the Business Office prior to cancelling the loan(s).

Financial Aid Policies

The Department of Education requires that all institutions of higher education disclose pertinent policies to the student body. All current Financial Aid Policies can be found on the Policies Page. Please contact the Financial Aid Office for clarification or for more information on any of the policies.